The Telegraph has learnt that a ceremony led by Leonel Antonio Fernández Reyna, the President of the Dominican Republic, to welcome the move is scheduled for Wednesday. Construction of Pinewood Indomina Studios will begin immediately and the facility is scheduled to open next year.

The studio is Pinewood's latest move to leverage the strength of the iconic British company behind the James Bond and Harry Potterfilm franchises outside of the UK.

In recent years, the group, chaired by former ITV chief executive Lord Grade, has expanded its brand globally through a series of joint venture partnerships.

It has created Pinewood Toronto Studios and Pinewood Studio Berlin Film Services, while Pinewood Iskandar Malaysia Studios is under construction. The group is also understood to be eyeing the Indian market, as it seeks to capitalise on the global success of Bollywood.

The latest initiative in the Dominican Republic will see Pinewood receive annual fees for its sales and management services.

The new site will be of particular interest to film and television producers around the world looking to create the realistic water effects seen in films such as Pirates of the Caribbean.

It will include an eight-acre water effects facility featuring a 75m x 75m exterior water tank with natural ocean horizons. There will also be a well-equipped diving and marine department.

Pinewood Indomina is aimed particularly at the South American, Central American and Caribbean markets. There has been increased demand from Latino film makers and television producers, particularly in countries such as Brazil, for state-of-the-art production facilities.

The film and television production facilities will initially feature 5,000 square metres of sound stage space, along with 15,000 square metres of production support facilities.

Growth in spending on filmed entertainment in Latin America is expected to rise to $3.1bn (£1.9bn) in 2014 from $2.4bn in 2009, according to PricewaterhouseCoopers Global Entertainment and Media Outlook 2010-2014. Box office spending in Latin America is expected to increase from $1.4bn in 2009 to $1.9bn in 2014.

Pinewood also hopes to expand further in the UK and is currently pushing for the creation of Project Pinewood, a 100-acre, £200m new set. The plan includes sets such as a Venetian canal and a typical New York street.

While Pinewood and Shepperton Studios have historically had a strong presence in film, the television market is now a considerable part of the business.